TASK FORCE FREEZES 408 BANK ACCOUNTS

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THE MDB Task Force has frozen RM1.1 billion from the accounts of 81 individuals and 55 companies believed to be linked to the mismanagement of 1MDB funds, involving about 900 transactions. It is looking at freezing more.

ATOTAL of 408 bank accounts with funds totalling RM1.1 billion have been frozen by the 1Malaysia Development Bhd (1MDB) special task force.

The task force yesterday said the bank accounts were frozen between June 26 and 29.

It said the bank accounts mostly belonged to individuals, political parties and non-governmental organisations.

It said 81 individuals and 55 companies whose accounts were frozen were believed to have received funds from 1MDB.

“These accounts are believed to be linked to the mismanagement and misuse of 1MDB funds, involving about 900 transactions made between March 2011 and September 2015.

“The 1MDB special task force is conducting investigations to identify the extent of these account holders’ involvement in the misappropriation and misuse of 1MDB funds.”

It said the investigation was being conducted fairly and thoroughly, and urged parties involved to give their full cooperation.

“The task force does not rule out the possibility that there will be another round of similar freezing of accounts.”